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Business News/ Markets / Stock Markets/  Stocks to Watch: Wipro, Zee Entertainment, Bajaj Consumer Care, BPCL, HAL
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Stocks to Watch: Wipro, Zee Entertainment, Bajaj Consumer Care, BPCL, HAL

Investors are expected to be pleased with Wipro’s second quarter results
  • BPCL inched closer to privatisation as news reports suggested that Saudi Aramco is likely to have shown interest
  • IOCL plans to raise ₹60 billion via local-currency bonds this financial year. (Mint)Premium
    IOCL plans to raise 60 billion via local-currency bonds this financial year. (Mint)

    NEW DELHI : Here is a list of top 10 stocks that may remain in focus on Wednesday:

    RIL: Mukesh Ambani's Reliance Jio on Tuesday defended its move to charge customers 6 paise per minute for interconnect usage charges (IUC) and alleged that other telecom operators are levying the same in a hidden manner. Shares of Bharti Airtel Ltd and Vodafone Idea Ltd had gained after Jio’s tariff announcement.

    Wipro: The IT major posted its September quarter earnings after market hours on Tuesday. Investors are expected to be pleased with the company’s second quarter results. While revenue growth was more or less in line with analysts’ expectations, at 1.1% sequentially in constant currency terms, profit margins were better than estimate.

    Indigo: Interglobde Aviation Ltd-owned Indigo has suspended flights on the Kolkata-Hong Kong route due to incidents of violence in the Chinese territory. However, the airline will continue to fly between Bengaluru and Hong Kong. Air India too will continue operations from Mumbai and Delhi.

    Zee Entertainment: VTB Capital Plc, a unit of Russia’s state-controlled lender VTB Group, is in talks with two potential investors to sell a 10.71% stake in Zee Entertainment Enterprises Ltd. If the deal goes through, it may threaten promoter Subhash Chandra’s control over the company he founded.

    Bajaj Consumer Care: The personal care firm’s promoter group on Tuesday sold about 22% stake, or 3.24 crore shares, for around 630 crore in a single block deal. Bajaj Consumer Care Ltd is promoted by Kushagra Bajaj. The proceeds from the share sale will be used to repay debt.

    BPCL: The state-owned company inched closer to the government’s plan of privatisation as news reports suggested that Saudi Aramco is likely to have shown interest to buy the government’s stake. The Centre has proposed to entirely sell its 53.3% stake in Bharat Petroleum Corp Ltd.

    HAL: The stalemate between workers and management of public-sector unit Hindustan Aeronautics Ltd is likely to be prolonged as both sides have refused to soften their stand on the contentious wage revision issue affecting production at India’s largest aircraft maker. This is one of the biggest strikes in the 79-year old history of the aircraft maker.

    IOCL: The state-run issuer plans to raise 60 billion via local-currency bonds this financial year, Indian Oil Corporation Ltd Director Finance Sandeep Kumar Gupta said, as reported by Bloomberg. India’s largest state-owned downstream petroleum firm by earnings plans to spend 250 billion rupees as capital expenditure this fiscal.

    PSU Banks: Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday met heads of public-sector banks and took stock of the current liquidity situation, particularly with regard to non-banking financial companies. Das focused on five main themes of liquidity, credit offtake, small and medium businesses, stressed loans and transmission of rates in the review meeting.

    Karnataka Bank: The bank reported its September quarter results after market hours on Tuesday. Its net profit fell 5.3% to 105.91 crore in the second quarter of the current fiscal due to rising bad loans. Asset quality declined, with gross non-performing assets increasing to 4.8% of the total loans.

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    Published: 16 Oct 2019, 08:18 AM IST
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